Friday, February 24, 2012

Market Summary -- 24th Feb 12

FTSE STI closed 2,978.08, up 9.74 points or +0.33% with a total volume of 1.79b and a total value of S$1.42b.  Total number of advance vs decline was 311 vs 218.  Of the 30 component index stocks, 21 closed positive and 9 closed negative.  The top 5 gainer component stocks were :-

1. JMH 400US$  +0.900
2. JSH 500US$  +0.360
3. HKLand US$  +0.240
4. Capitaland  +0.090
5. CityDev  +0.070
5. SembCorp  +0.070

The top 5 loser component stocks were :-

1. Jardine C&C  -2.880
2. UOB  -0.290
3. SIA  -0.060
4. Wilmar  -0.040
5. Olam  -0.030

US markets rebounded yesterday night with at least +0.3% gain after jobless claims data.  Asian bourses taking the cue also closed positive for the day with Nikkei closed +0.54%, SSE +1.25% and HSI +0.12%.  STI +0.33% in a thin volume trade with total volume drop below 2 billion level as investors maintain cautious and wait for more confirmation on the market trend.  21 of the 30 index stocks managed to close positive.

Singapore January manufacturing output fell more than expected at -8.8% vs -0.70% expected and that put some investors in the sideline for the time being.  Market should be in consolidation stage as earning season coming to an end soon and with Greece bailout also concluded days ago, market lacks of that extra events/news to trigger a bigger move for the time being.

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